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Press Release

Shell Oman Investors Meeting

Shell Oman Marketing Company SAOG held its annual meeting with the local investors at the Businessmen Hall, Capital Market Authority building in the CBD on 10th November 2009.

The meeting was attended by a number of investors, brokers, fund managers and media representatives. The meeting formed part of the Company’s communication programme with its shareholders and investors with the objective of engaging them on the current performance of the Company and the key challenges and issues that it faces.

During the meeting, Mr. Faisal Al-Hashar (Managing Director), Mr. Achilles Sklivaniotis (Finance Director) and Mr Mohammed Al-Farsi (GM - External Affairs and Business Development) briefed the attendees on the Company’s corporate strategy, year-to-date business performance and highlights. Investors and shareholders were also briefed on the new marketing initiatives launched during the year.

Mr. Al-Hashar stressed that Retail continues to be consistent in the delivery of Operational Excellence at its service stations and shows very good results and our customer satisfaction index can justify this. Retail continued with the Improved Shell Super during the year. Commercial fuels business continued to deliver good results and have managed to acquire new business and rescuer current contracts for fuel supplies. Aviation business fuel sales continued growing as volumes at Muscat International Airport increased, mainly due to volumes coming from existing and new customers added in our portfolio. The Lubricants team has managed to renew key contracts as well as gaining new contract that will contribute to the business growth in the coming years.

Mr. Al-Hashar also commented that the combination of all of the above has enabled the Company to register a strong performance for the period ending 30 September 2009. The result as published in October 2009 showed the Company generating a Net Income After Tax of RO 10.1 million in the nine months, compared to RO 9.7 million in the same period a year ago.

On the outlook for the rest of the year, Mr. Al-Hashar said that the Company is confident of maintaining the current strong performance. The Company would continue to focus on servicing its customers’ requirements by delivering operational excellence in all areas of operations in a safe and environmentally friendly manner. 

You can download the investors meeting presentation from This Link.